The Ninth Circuit’s recent decision calls into question the Second Circuit’s definition of “personal benefit” for insider trading liability in criminal prosecutions.
On July 6, 2015, United States District Court Judge...more

I love writing articles where I get to discuss companies making history. PetroTiger has been exonerated from criminal FCPA prosecution by the DOJ. That’s only happened once before, in the case of Morgan Stanley....more

In This Issue:
..From 20 Years to Zero in Six Trial Days
- Noted With Interest:
..FedEx Drivers: Employees or Independent Contractors? The Ninth Circuit Weighs in on California’s Murky “Right-to-Control”...more

A closer look at new research data about corruption in the financial industry: is the industry as far behind on organizational culture as it might seem?
A recent study, “The Street, The Bull and The Crisis: A Survey of...more

On December 23, 2014, the United States Attorney for the Eastern District of North Carolina filed a Complaint for Forfeiture In Rem seeking to forfeit $107,702.66 belonging to Lyndon McLellan, the owner of L&M Convenient Mart...more

Increased anti-money laundering (AML) regulation enforcement by federal and state agencies in recent months should have financial institutions across the country reviewing and strengthening their in-house AML policies and...more

Regulators across the globe are intensifying their focus on enforcing the regulation of the asset management industry. Over the last twelve months, the global Financial Stability Board, the International Monetary Fund, the US...more

In an effort to lessen the risk that businesses and individuals performing legitimate financial transactions will have funds frozen through a prosecutor’s use of forfeiture laws, on March 31, Attorney General Eric Holder...more

A national bank discovered it doesn't always pay to keep certain clients happy after paying a $67 million civil judgment against it for its role in helping a customer operate a Ponzi scheme that defrauded investors of $1.2...more

Last week SEC Enforcement Division Director Andrew Ceresney,testified before Congress regarding the efforts of the Division and its requested for additional funding, highlighting its priorities....more

In light of the first federal “coordination” case guilty plea, the Department of Justice (“DOJ”) has announced its intent to aggressively pursue convictions for coordination violations. This apparently new focus comes as the...more

The SEC continued Operation Shell-Expel this week, suspending trading in the shares of 128 OTC issuers bringing its total for the program to about 8% of the shares traded in that market. The Commission also announced another...more

Highlighting the peril of unethical business leadership, a judge recently sentenced the former CEO of a bankrupt cash-management firm to 14 years in prison for defrauding more than 70 customers of more than $665 million...more

In a recently filed Form 8-K, an international money transmitter, Xoom Corporation, reported that been the victim of a criminal fraud. This was no small heist. According to company, over $30 million had been transferred to...more

Following months of rumors that the Financial Crimes Enforcement Network (FinCEN) is preparing to impose personal liability on officers, directors and employees for shortcomings in their financial institutions’ Bank Secrecy...more

On August 11, 2014, the Financial Crimes Enforcement Network (FinCEN) published an advisory (FIN-2014-A007) warning all financial institutions, regardless of size or industry sector, that a poor culture of compliance can lead...more

The objective of this study is to provide FBI program managers and the general public with relevant data to better understand the threat posed by mortgage fraud. The report was requested by the Financial Crimes Section,...more

On August 6, the Special Inspector General for the Troubled Asset Relief Program (TARP), the FDIC Office of Inspector General, and Illinois Attorney General Lisa Madigan announced criminal charges against former members of...more

LIES: Eric Holder Owes the American People an Apology
When Holder first trotted out these figures last October, he bragged during a press conference about the results of the government’s “Distressed Homeowner Initiative,”...more

On August 1, 2013, amid mounting pressure from disgruntled sectors of the Brazilian society and unrelenting street demonstrations across the country's largest cities – not to mention historic low approval ratings – President...more

In Ireland, a hotelier has initiated a private prosecution against a current and a former employee of an Irish bank. The hotelier was a director and shareholder of two companies which apparently owed a significant amount to...more

Expansion into both new and emerging markets is a continuing trend for companies across many industry sectors. In a number of jurisdictions, local law restricts foreign companies from establishing wholly owned subsidiaries -...more

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